Former Finance Minister under the erstwhile John Mahama administration Seth Terkper has likened the Nana Akufo Addo – Dr Bawumia administration to a Ponzi scheme.

He made the comments on the Ultimate Breakfast Show responding to the assertion of a former Deputy Finance Minister and Member of Parliament for Obuasi West Kwaku Kwarteng who argues that successive governments have treated the country’s economy like a Ponzi scheme.

He asked host Julius Caesar Anadem, “What is worse than a Ponzi scheme when you give your money to the government and the government is supposed to protect you including your pension funds? And then the government turns around to say I have given you a haircut?”

“Today they are saying the haircut is a saving. A saving of what? It is a sacrifice of Ghanaians,” he stated.

Mr. Terkper was angered Government has eroded the country’s investor trust with a Debt Exchange Program which has effectively affected gains and deferred payments to bondholders and holders of other government debt instruments.

He pointed out that the country was yet to see any meaningful expression of the NPP government’s flagship promises including the one district one factory; one village one dam, one constituency one million policy, and a host of others.

“I just came back from my constituency which is a district capital. Somanya in Yilo does not have 1 district and 1 factory. What we have here is a warehouse that was built with the HYPIC fund.”

“At best the ones that are there are private investments for which the government gave concessions and incentives but that was not the promise. The records are there,” he stated.

He noted that on the contrary, contiguous districts have E-Schools roads and other projects that the opposition National Democratic Congress can point to as evidence of fulfilled promises.

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